• Economics for Success 1

ECONOMICS FOR SUCCESS®

Program Overview

JA Economics for Success provides practical information about personal finance and the importance of identifying education and career goals based on a student’s skills, interests, and values.

Following participation in the program, students will be able to:

  • Explore their skills, interests, values, and the world of work to make informed education, career, and life decisions.
  • Develop their knowledge of personal finance so they can apply strong financial management skills regardless of their income.


Session Overviews and Objectives

Session One
Mirror, Mirror
Students make choices to better understand the concept of self-knowledge—the awareness of their skills, interests, and values—as they consider education, careers, and other life choices.

Objectives

Students will be able to:

  • Use personal reflection to explain
    self-knowledge.
  • Apply their skills, interests, and
    values to help determine a potential career path.

Session Two
Be a Success
Students learn how to set goals for their financial future. They play the Be a Success Game to see the connection between personal finance, education, and careers.

Objectives

Students will be able to:

  • Identify the connection between goal-setting, personal finance, education, and career choices.
  • Apply decision making to education and career choices.
Session Three

Keeping Your Balance
Students receive Occupation Cards and observe how different jobs provide different monthly salaries. Based on those monthly salaries, students evaluate the opportunity cost when making budget decisions.

Objectives

Students will be able to:

  • Recognize that a balanced budget is important for all workers.
  • Define the term income and differentiate between gross and
    net income.
  • Name ways to balance a budget.
Session Four

Savvy Shopper

Students examine how consumers pay for goods and services. They discuss the advantages and disadvantages of using debit and credit cards.

Objectives

Students will be able to:

  • Identify the differences between debit and credit cards.
  • Explain the advantages and disadvantages of both cards.
  • Recognize the importance of taking personal responsibility for financial decisions.

Session Five
Keeping Score

Students examine how a credit score is determined and learn about the consequences of a positive and negative credit report.

Objectives

Students will be able to:

  • Describe the favorable or unfavorable consequences of a high or low personal credit score.
  • Explain actions that cause a credit score to go up or down.

Session Six
What’s the Risk?
Students learn that life involves risk and that insurance and personal responsibility help to reduce the financial consequences of loss or injury.

Objectives

Students will be able to:

  • Explore the cost and consequence
    of risk.
  • Explain how insurance provides a method to minimize financial risk.
  • Identify the opportunity cost of having insurance.
  • Assess how personal responsibility plays a part in minimizing risk.

Program Basics

  • Includes a series of six sessions recommended for students in middle school.
  • Average time for each session is 45 minutes.
  • Materials are packaged in a self-contained kit that includes detailed plans for the volunteer and materials for 32 students.
  • Provides practical information about the following key topics: choices and self-knowledge, education and career options, budgeting, using credit, credit score, and financial risk.
  • Session-specific, student-friendly materials included to increase student interaction and emphasize JA’s experiential approach to learning.
  • Correlates well to state social studies, English, and math standards, as well as to the Common Core State Standards in English/language arts and mathematics.

Program Concepts and Skills
JA Economics for Success
enhances students’ learning of the following concepts and skills:

Concepts—Budget, Credit, Credit card, Credit score, Co-pay insurance, Debit card, Decision making, Deductible, Goal setting, Gross income, Higher education, Interest, Interests, Needs and wants, Net income, Opportunity cost, Policy, Premium, Risk, Self-knowledge, Skills, Values, World of work

Skills—Analyzing information, Critical thinking, Inquiry and critical thinking skills, Interpreting data, Math calculations, Oral and written communication, Problem solving, Reading for understanding, Self-assessment, Working in groups and pairs presentation, Oral and written communication, Organizing information, Reading for understanding


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